All Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) non-fungible tokens (NFTs) stolen from peer-to-peer trading platform nft Trader have been returned after payment of a reward.
Nearly $3 million worth of NFTs were stolen in the December 16 hack. According to public messages, the attacker attributed the original exploit to another user. “I came here to collect residual trash,” they wrote, requesting ransom payments to return the NFTs.
“If you want to get these NFTs back, then you have to pay me 120 eth (…) and then I will send you the NFTs, it's that simple, and I never lie, believe me (…).” read one of the messages.
A community initiative led by Boring Security, a non-profit Web3 security project funded by ApeCoin, recovered all assets in less than 24 hours after paying the 120 Ether (eth) reward, worth around $267,000 at the time. time of writing this article.
“The 36 BAYC and 18 MAYC that the exploiter had are now in our possession. We send (the hacker) 10% of the minimum price of the collections as a reward,” the Boring Security team. wrote on X (formerly Twitter).
Congratulations to the @BoringSecDAO to get those apes back.
Well done. @BoredApeYC pic.twitter.com/brVGQ58Sg2
— realniceguy.eth (@realniceguy_SRH) December 17, 2023
The reward was paid by Greg Solano, co-founder of Yuga Labs. The company is the creator of the nft collections and supported negotiations to recover the tokens and return them to their original owners for free.
According to “Foobar,” the pseudonymous founder and developer of Delegate, the vulnerability was introduced 11 days ago after a smart contract update allowed a multi-call feature to be misused, allowing unauthorized transfers of NFTs from their rightful owners due to previously granted commercial permits.
The incident prompted calls for users to revoke all permissions granted to two old contracts 0xc310e760778ecbca4c65b6c559874757a4c4ece0 and 0x13d8faF4A690f5AE52E2D2C52938d1167057B9af. NFTs could be stolen again if approvals are not revoked, Foobar said. The developer helped the nft Trader team stop the attack shortly after its discovery.
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